FDI in e commerce limited to marketplace model under automatic route; inventory based FDI prohibited and strict control conditions imposed.
The policy permits 100% FDI under the automatic route only in marketplace models and prohibits FDI in inventory based e commerce; e commerce entities must operate on a B2B basis, not B2C. Marketplace entities must not own or control vendor inventory (control is deemed if over 25% of a vendor's purchases are from the marketplace or its group), must not influence sale prices, must provide vendor services on an arm's length, fair and non discriminatory basis, and must ensure payments conform with Reserve Bank guidelines. Entities with equity participation by the marketplace or its group cannot sell on the same platform.

Line of Credit support for export finance enabling water project procurement, subject to FEMA compliance and export eligibility.
Exim Bank extended a Government of India supported Line of Credit to Tanzania to finance water supply projects, permitting financing of eligible exports from India under the Foreign Trade Policy. At least seventy five percent of contract value must be supplied from India, with the remainder procurable from outside India. The LoC specifies a terminal utilization period after project completion; shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use own resources or EEFC balances for commission subject to realization and AD Category I bank compliance. Directions issued under FEMA.

Mandatory hedge coverage for certain external commercial borrowings reduced, easing hedging obligations for eligible borrowers.
Mandatory hedge coverage for specified External Commercial Borrowings under Track I has been reduced for medium-term maturities; new ECBs must comply with the reduced hedge requirement and existing ECBs within scope must roll-over hedges only to the extent of the reduced coverage. Other ECB provisions remain unchanged, the Master Direction will be updated, and AD Category-I banks must notify constituents. Directions are issued under the Foreign Exchange Management Act and are without prejudice to other statutory permissions.

Line of credit support: Export financing allowed with majority India-sourced supply, EDF declaration, and specified utilisation controls.
Exim Bank's Government-supported Line of Credit finances export of eligible goods and services for specified maintenance works, requiring a substantial portion of contract value to be supplied from India and permitting limited foreign procurement; shipments must be declared in the Export Declaration Form and agency commission is not payable under the LoC, though exporters may remit commission from own funds or Exchange Earners' Foreign Currency Account subject to realization and bank compliance.

Line of Credit conditions for export financing require majority sourcing from India and EDF shipment declarations.
Exim Bank's Government of India supported Line of Credit to Suriname finances eligible exports for transmission network upgrades, requiring at least 75 per cent of each contract's value to be supplied from India and allowing up to 25 per cent foreign procurement; shipments must be declared in the Export Declaration Form, no agency commission is payable under the LoC though exporters may use own funds or EEFC balances for commission subject to AD Category I compliance, and AD Category I banks must notify exporter constituents of LoC details. Directions issued under FEMA remain without prejudice to other approvals.

Government backed line of credit requires majority Indian content and RBI prescribed export declarations with bank compliance.
Exim Bank's Government of India supported line of credit to Madagascar finances completion of a fertilizer project, requiring at least 75 per cent Indian supplied goods and services, allowing up to 25 per cent foreign procurement, effective October 2018 with a sixty month terminal utilisation period; shipments must be declared in the Export Declaration Form and agency commission is not payable under the LoC though exporters may remit commission from own funds or EEFC balances subject to realisation and AD Category I bank compliance under FEMA directions.

External Commercial Borrowings maturity revisions narrow eligible infrastructure tenor and tighten mandatory hedging for shorter tenor ECBs.
The Reserve Bank amended the ECB framework for infrastructure borrowers by reducing the minimum average maturity applicable to certain ECBs and lowering the average maturity threshold for exemption from mandatory hedging, resulting in intermediate tenor infrastructure ECBs being subject to 100% mandatory hedging; existing hedges need not be rolled over, other ECB policy provisions remain unchanged, and AD Category I banks are to inform constituents while the Master Direction will be updated.

External commercial borrowings liberalisation permits public sector oil companies to raise working capital ECBs under relaxed automatic-route conditions.
Public sector Oil Marketing Companies may raise external commercial borrowings for working capital under the automatic route from all recognised lenders with a specified minimum average maturity; individual borrower limits and mandatory hedging requirements are waived for this dispensation, subject to the OMCs maintaining a Board-approved forex mark-to-market procedure and prudent risk management policy, under an overall ceiling equivalent to USD 10 billion and with other ECB provisions unchanged.

External Commercial Borrowings policy liberalisation shortens minimum maturity for manufacturers and permits bank participation in rupee bonds.
ECB policy liberalisation permits manufacturers to raise ECBs at the existing small ticket limit with a reduced minimum average maturity of one year, while Indian banks are authorised to act as arrangers, underwriters, market makers and traders for Rupee denominated bonds issued overseas, subject to applicable prudential norms. All other ECB provisions remain unchanged and the Master Direction is being updated; AD Category I banks must notify constituents. The directions are issued under the Foreign Exchange Management Act and do not affect other statutory approvals.

Government-supported Line of Credit permits export financing for a wind energy project with sourcing and remittance conditions for exporters.
A Line of Credit from Export-Import Bank of India to Banco Exterior De Cuba finances eligible exports for a wind energy project, requiring at least 75 percent of goods and services to be sourced from India and permitting up to 25 percent foreign procurement; the agreement is effective from August 8, 2018 with a terminal utilisation period of sixty months from each contract's scheduled completion.

Line of Credit finances export of eligible Indian goods and services under Government backed export finance terms.
Exim Bank has provided a Government supported Line of Credit to Banco Exterior De Cuba to finance export of eligible goods and services for a cogeneration power plant; at least 75% of each contract's value must be supplied from India, up to 25% may be procured abroad, shipments must be declared in the Export Declaration Form, and no agency commission is payable from the LoC though exporters may use own funds or EEFC balances for commission remittance subject to standard AD Category I bank controls.

Line of Credit support enables financing of eligible Indian exports to ECOWAS projects with local supply and compliance conditions.
Exim Bank's Government supported Line of Credit to Ecowas Bank finances eligible Indian exports for development projects, requiring at least 75% local supply from India, terminal utilization measured from project completion, shipment declaration in the Export Declaration Form, prohibition on agency commission under the LoC with limited exceptions for exporter-funded commission payments, and compliance and remittance facilitation by AD Category I banks; directions are issued under FEMA.

Rupee Drawing Arrangement permits exchange-house remittances to Kerala relief fund where banks credit fund and retain remitter details
AD Category I banks may receive remittances to the Chief Minister's Distress Relief Fund, Kerala, via non resident exchange houses provided the banks directly credit the fund and maintain full details of the remitters; the Master Direction on Rupee/Foreign Currency Vostro Accounts of Non resident Exchange Houses is updated accordingly.

Government-backed Line of Credit enables export financing under Foreign Trade Policy, subject to FEMA compliance and remittance rules.
A Government-supported Line of Credit from Exim Bank finances export of eligible goods and services for a specified Zambian health project, requiring at least 75 per cent of contract value to be supplied from India and permitting up to 25 per cent procurement abroad. Shipments must be declared in the Export Declaration Form per Reserve Bank instructions. No agency commission is payable under the LoC, though exporters may use own funds or Exchange Earners' Foreign Currency Account balances to pay commission in free foreign exchange subject to realisation and extant remittance rules.

Line of Credit conditions require majority India-sourced exports and EDF shipment declarations with FEMA-based compliance obligations.
A Government of India supported Line of Credit of USD 17.50 million through Exim Bank finances hospital upgrades in Guyana, requiring at least 75 per cent of contract value for goods and services to be supplied from India and allowing up to 25 per cent external procurement. The LoC is effective from June 12, 2018, with a terminal utilization period of sixty months after scheduled completion. Shipments must be declared in the Export Declaration Form; no agency commission is payable under the LoC though exporters may remit commission from their own resources or EEFC balances subject to AD Category I bank compliance. The directions are issued under FEMA.

Line of Credit approvals enable export financing with prescribed domestic sourcing and FEMA-based reporting and remittance rules.
Government-supported Line of Credit through Exim Bank permits financing of eligible exports subject to Foreign Trade Policy eligibility. At least a specified portion of contract value must be supplied from India, with the balance procurable from outside India. Shipments under the LoC must be declared in the Export Declaration Form. No agency commission is payable from the LoC; exporters may pay commission from their own resources or Exchange Earners' Foreign Currency Accounts after realisation of export value, subject to extant instructions. AD Category I banks must notify exporters and the directions are issued under the Foreign Exchange Management Act.

Government supported Line of Credit permits export financing for harbour rehabilitation, subject to sourcing, EDF declaration and commission rules.
A Government supported Line of Credit finances rehabilitation of Kankesanthurai Harbour and allows financing of exports of eligible goods and services from India, requiring at least 75% of contract value to originate in India and permitting up to 25% procurement from outside; the agreement is effective from June 12, 2018 with a terminal utilization period of 60 months from scheduled contract completion.

Permanent Account Number requirement now mandatory for liberalised remittances; 'relative' aligned with Companies Act definition.
The Reserve Bank mandates furnishing of Permanent Account Number for all Liberalised Remittance Scheme transfers, standardising data and compliance; it also aligns the definition of relative for maintenance-related remittances with the Companies Act, 2013 and updates the Master Direction on LRS. The directions are issued under the Foreign Exchange Management Act, 1999 and are without prejudice to other statutory permissions.

FPI debt investment limits restructured: maturity relaxations with capped short-term exposure and tighter monitoring by market infrastructure.
FPIs may invest in central government securities (including treasury bills) and State Development Loans without minimum residual maturity, and in corporate bonds with residual maturity above one year, subject to a 30% cap on an FPI's short-term investments in each category; exemptions apply for Exempted Securities. The aggregate cap on FPI holdings in any central government security is revised to 30% of outstanding stock. CCIL will monitor G-sec and SDL limits online, custodians and FPIs bear primary responsibility for compliance, and concentration and issue-level investor limits with specified transitional relaxations apply.

Foreign investment reporting: single master form requirement established, entities must pre-register to remain eligible to receive investment.
Introduction of a Single Master Form for consolidated online reporting of total foreign investment in Indian entities and by persons resident outside India in investment vehicles; entities must complete an Entity Master via a web interface before the SMF goes live, and failure to do so will bar receipt of foreign investment and constitute non-compliance with foreign exchange law.